New technology to empower insurance agents

ZhongAn Technologies, a subsidiary of ZhongAn Online P&C Insurance, is aiming to enhance the performance of millions of insurance agents with technologies and new methods such as video streaming.

The COVID-19 pandemic has had a severe impact on insurance agents who usually conduct business with potential clients face to face.

To better help them navigate through the current crisis, the company has encouraged industry experts to share their experiences in doing business via video streaming.

Technology will be a catalyst for change in the insurance sector, and for agents, the combination of traditional ways of offline marketing and advanced technologies such as artificial intelligence will greatly improve the service efficiency, industry experts said.

China had around 8 million insurance brokers by the end of 2019, according to data from the China Banking and Insurance Regulatory Commission. Previously, these offline agents contributed more than half of insurance sales and were a major power in the industry.